Samsung warns investors over lower-than-expected profitsJune 26, 2014 - 16:59 AMT PanARMENIAN.Net - Samsung has warned investors that profits during the second quarter of its current fiscal year could be even lower than expected, Digital Spy said. The tech giant previously confirmed that a year-on-year downturn is likely, but finance chief Lee Sang-hoon believes the situation may be worse than initially forecast. Lee publicly stated that Samsung's latest balance sheet "doesn't look too good", causing its stock to decline a further 1.9% on top of the 8.5% dip earlier this month, Electronista speculates that the firm's financial woes are down to below-par sales of its Galaxy S5 flagship smartphone. Although company head JK Shin recently announced that shipments of the device have exceeded 11 million units, there are doubts about whether this figure has translated into significant over-the-counter sales in the face of steep competition. Samsung is also thought to be struggling to stimulate demand for its mid-to-low end smartphones in the developing markets, with Microsoft-owned Nokia tightening its grip on the sector. The company will announce its second-quarter financial results next month. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. India wants Armenia’s proposals on use of Chabahar port India is expecting proposals from Armenia regarding the use of Chabahar port in Iran, Indian ambassador says. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. |